Bharti Airtel posts surprise Q1 profit, helped by tax gains

Bharti Airtel posts surprise Q1 profit, helped by tax gains

Airtel’s revenue fell about 9% to ₹ 20,080 crore in the June quarter. Photo: Pradeep Gaur/Mint

Airtel’s revenue fell about 9% to ₹ 20,080 crore in the June quarter. Photo: Pradeep Gaur/Mint

Bengaluru: India’s Bharti Airtel Ltd posted a surprise Q1 profit on Thursday, helped by tax gains in the period. Profit fell 73.5% to ₹ 97.3 crore ($14.17 million) for the quarter ended 30 June, as a pricing war that has upended the telecoms sector continued to weigh on the mobile carrier. The company had reported a profit of ₹ 367 crore a year earlier. Analysts, on average, expected a net loss of ₹ 308 crore, according to estimates by Thomson Reuters I/B/E/S.

Revenue fell about 9% to ₹ 20,080 crore, the company said in a statement.

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